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workforce demographics increase

Employers face many problems and issues as the workforce demographics increase in age diversity. Some of these issues include age discrimination, increased disability and healthcare cost, loss of expertise due to the inability of employers to retain the older employees and lack of proactive procedures and programs for older employees.

According to a Government Accountability Office (GAO) report issued in 2006, the number of workers over age 55 is projected to increase significantly over the next 20 years with this demographic group projected to comprise as much as one-fifth of the nation’s workforce by 2015 (Government Accountability Department, 2006). The unprecedented aging of the world’s population and the strong correlation between aging and disability challenges employers.

Observe the listed demographic changes in the workforce, any challenges and concerns employers have with an aging workforce, and some benefits of an older workforce.  Find select academic and other related literature on employer strategies to prepare for an aging workforce and examples of successful retention initiatives.